Tikijian Associates recently closed the sale of Decatur Woods Apartments in Indianapolis.
Decatur Woods is a 180-unit garden-style apartment community on Indianapolis’ suburban southwest side. The property is located close to the Indianapolis International Airport and AmeriPlex.
The buyer, The Ardizzone Group, plans to rename the property Aspen Pointe and has a multi-million dollar renovation planned. The property renovation will include items such as new windows, clubhouse and common area updates and the full interior upgrade of units.
Indianapolis-based Ardizzone Group made its entry into multi-family properties in 2008 when it completed the acquisition of a large Indianapolis portfolio consisting of more than 1,800 units.
Tikijian Associates represented the seller, JVM Realty, in the disposition of Decatur Woods and on the recent sales of three other Indianapolis area properties sold in the past year.